Stewart Fitzell @defense_investor: "𝗠𝗮𝗿𝗸𝗲𝘁 𝗮𝗻𝗱 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗨𝗽𝗱𝗮𝘁𝗲: After three..."

Ireland

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𝗠𝗮𝗿𝗸𝗲𝘁 𝗮𝗻𝗱 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗨𝗽𝗱𝗮𝘁𝗲: After three strong weeks to start September, markets have turned more measured, but I remain cautiously optimistic. I am holding a bit more cash than usual and have trimmed some positions to remain agile heading into Q4. 𝙒𝙝𝙖𝙩’𝙨 𝙎𝙝𝙖𝙥𝙞𝙣𝙜 𝙈𝙖𝙧𝙠𝙚𝙩𝙨? The US Federal Reserve cut rates by 0.25% last week, with Chair Jerome Powell calling policy a “challenging situation.” A narrow majority still expect two more cuts this year, though others prefer none. Powell also highlighted risks in high-value stocks, which weighed on markets this week. The core Personal Consumption Expenditures (PCE) inflation reading published today met expectations at 2.9%, reassuring markets that inflation is steady and giving the Fed more room to cut. Third-quarter US GDP was revised up to 3.8%, ahead of the 3.3% forecast. The September US jobs report will be the next key release and could shape short-term direction. Sentiment has dipped since last week, while Trump’s new pharmaceutical tariffs show trade risks remain and that investors need to stay agile. 𝙏𝙝𝙞𝙨 𝙋𝙤𝙧𝙩𝙛𝙤𝙡𝙞𝙤 This week I trimmed $GOOG (Alphabet) after a strong run and $NFLX (Netflix, Inc.) after lagging. Outperformers included $AVAV (AeroVironment Inc.) , $WSLV.L (WisdomTree Core Physical Silver UCITS ETF) , and $RR.L (Rolls-Royce) helping to keep the portfolio ahead of the market again. I am prepared for potential volatility, holding more cash than usual (12.27%), as markets look for their direction heading into Q4 - this approach has paid off — 𝙩𝙝𝙚 𝙥𝙤𝙧𝙩𝙛𝙤𝙡𝙞𝙤 𝙞𝙨 𝙪𝙥 𝟯𝟬.𝟮% 𝙮𝙚𝙖𝙧-𝙩𝙤-𝙙𝙖𝙩𝙚 𝙫𝙚𝙧𝙨𝙪𝙨 𝟭𝟮.𝟯% 𝙛𝙤𝙧 𝙩𝙝𝙚 𝙎&𝙋 𝟱𝟬𝟬. Remember, this portfolio is positioned for now and for the future and the allocations of the assets we hold reflect my assessment that they will perform well. Having said that, as I've said before, if the facts change I may change my mind and adjust. Have a nice weekend, Stewart 🔹️𝙋𝙤𝙧𝙩𝙛𝙤𝙡𝙞𝙤 𝙄𝙣𝙩𝙧𝙤𝙙𝙪𝙘𝙩𝙞𝙤𝙣 & 𝙁𝘼𝙌 etoro.tw/3BqjOb2 🔹️𝘾𝙤𝙥𝙮 𝙏𝙧𝙖𝙙𝙞𝙣𝙜: 𝙆𝙚𝙮 𝙄𝙣𝙛𝙤𝙧𝙢𝙖𝙩𝙞𝙤𝙣 etoro.tw/45vTQj5 ⚠️ Risk Warnings: Copy Trading does not amount to investment advice | Your capital is at risk | The value if your investments may go up or down. | Past performance is not indicative of future results.